B) I) Under the classification of cost as variable of fixed for decision making, many are of the opinion that fixed costs are irrelevant whereas variable costs are relevant cost. Is such an opinion valid? Page 3 of 9 II) The data below shows the forecast cost of production for the coming year for Mako-Mako at varying levels of production. Expected units of production 160000 180000 200000 Direct material GHS 320,000 GHS 360,000 GHS 400,000 Direct Labour GHS 880,000 GHS 900,000 GHS 1000,000 Overheads GHS 1400,000 GHS 1540,000 GHS 1680,000 The cost function in the above data applies up to the forecast value of 350,000 units of production per annum. Required: i) Estimate the unit for each cost element including variable cost per unit and total fixed overhead. ii) Determine a total cost function for Mako-Mako and the highest under maximum anticipated production